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Morinaga Milk Industry Co (TSE:2264) Cyclically Adjusted PB Ratio : 1.58 (As of Apr. 29, 2024)


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What is Morinaga Milk Industry Co Cyclically Adjusted PB Ratio?

As of today (2024-04-29), Morinaga Milk Industry Co's current share price is 円3049.00. Morinaga Milk Industry Co's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 was 円1,927.86. Morinaga Milk Industry Co's Cyclically Adjusted PB Ratio for today is 1.58.

The historical rank and industry rank for Morinaga Milk Industry Co's Cyclically Adjusted PB Ratio or its related term are showing as below:

TSE:2264' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.11   Med: 1.6   Max: 2.46
Current: 1.58

During the past years, Morinaga Milk Industry Co's highest Cyclically Adjusted PB Ratio was 2.46. The lowest was 1.11. And the median was 1.60.

TSE:2264's Cyclically Adjusted PB Ratio is ranked worse than
57.88% of 1237 companies
in the Consumer Packaged Goods industry
Industry Median: 1.33 vs TSE:2264: 1.58

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Morinaga Milk Industry Co's adjusted book value per share data for the three months ended in Dec. 2023 was 円3,199.778. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is 円1,927.86 for the trailing ten years ended in Dec. 2023.

Shiller PE for Stocks: The True Measure of Stock Valuation


Morinaga Milk Industry Co Cyclically Adjusted PB Ratio Historical Data

The historical data trend for Morinaga Milk Industry Co's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Morinaga Milk Industry Co Cyclically Adjusted PB Ratio Chart

Morinaga Milk Industry Co Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.43 1.50 1.99 1.65 1.36

Morinaga Milk Industry Co Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.45 1.36 1.30 1.50 1.42

Competitive Comparison of Morinaga Milk Industry Co's Cyclically Adjusted PB Ratio

For the Packaged Foods subindustry, Morinaga Milk Industry Co's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Morinaga Milk Industry Co's Cyclically Adjusted PB Ratio Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Morinaga Milk Industry Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Morinaga Milk Industry Co's Cyclically Adjusted PB Ratio falls into.



Morinaga Milk Industry Co Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Morinaga Milk Industry Co's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=3049.00/1927.86
=1.58

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Morinaga Milk Industry Co's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 is calculated as:

For example, Morinaga Milk Industry Co's adjusted Book Value per Share data for the three months ended in Dec. 2023 was:

Adj_Book=Book Value per Share/CPI of Dec. 2023 (Change)*Current CPI (Dec. 2023)
=3199.778/106.8000*106.8000
=3,199.778

Current CPI (Dec. 2023) = 106.8000.

Morinaga Milk Industry Co Quarterly Data

Book Value per Share CPI Adj_Book
201403 1,219.092 95.700 1,360.491
201406 1,199.142 98.000 1,306.820
201409 1,221.916 98.500 1,324.879
201412 1,262.422 97.900 1,377.188
201503 1,257.881 97.900 1,372.234
201506 1,264.326 98.400 1,372.256
201509 1,289.692 98.500 1,398.367
201512 1,356.067 98.100 1,476.330
201603 1,298.571 97.900 1,416.623
201606 1,325.309 98.100 1,442.844
201609 1,379.352 98.000 1,503.212
201612 1,437.127 98.400 1,559.809
201703 1,437.407 98.100 1,564.883
201706 1,497.688 98.500 1,623.889
201709 1,568.298 98.800 1,695.286
201712 1,613.633 99.400 1,733.763
201803 1,594.523 99.200 1,716.684
201806 1,615.102 99.200 1,738.840
201809 1,665.311 99.900 1,780.332
201812 1,701.799 99.700 1,822.990
201903 1,694.695 99.700 1,815.380
201906 1,710.971 99.800 1,830.979
201909 1,770.238 100.100 1,888.725
201912 1,809.937 100.500 1,923.396
202003 1,833.869 100.300 1,952.714
202006 1,847.187 99.900 1,974.770
202009 1,918.638 99.900 2,051.157
202012 1,969.727 99.300 2,118.498
202103 2,016.200 99.900 2,155.457
202106 2,075.234 99.500 2,227.487
202109 2,167.483 100.100 2,312.559
202112 2,200.413 100.100 2,347.693
202203 2,279.294 101.100 2,407.800
202206 2,294.768 101.800 2,407.478
202209 2,486.601 103.100 2,575.839
202212 2,536.758 104.100 2,602.553
202303 2,464.999 104.400 2,521.666
202306 3,003.146 105.200 3,048.821
202309 3,146.212 106.200 3,163.987
202312 3,199.778 106.800 3,199.778

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


Morinaga Milk Industry Co  (TSE:2264) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Morinaga Milk Industry Co Cyclically Adjusted PB Ratio Related Terms

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Morinaga Milk Industry Co (TSE:2264) Business Description

Traded in Other Exchanges
Address
33-1, Shiba 5-chome, Minato-ku, Tokyo, JPN, 108-8384
Morinaga Milk Industry Co., Ltd. is a Japanese company engaged in the production and distribution of dairy products. It produces a variety of milk and milk based products such as dairy-based beverages, yogurt, desserts, condensed milk, powdered milk, butter, cheese, ice cream, clinical liquid diets. It also manufactures and sells animal feed, and constructs plant equipments. The company through its subsidiaries markets its products internationally.

Morinaga Milk Industry Co (TSE:2264) Headlines

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